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Nov 26, 2012 2:00am PST
that changes in social security and medicare. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> reporter: activists on the left are lining up to oppose those reforms, but the president has put them on the table before. during last year's failed talks on a grand bargain and more recently in his first post-election press conference. >> we have to continue to take a serious look at how we reform our entitlements because health care costs continue to be the biggest driver of our deficits. >> reporter: mr. obama has insisted that in any deal, tax rates on the wealthy must rise. but a top democrat signaled openness to the republican stance. revenue can be raised by closing loopholes and limiting deductions. >> they have to go up either real tax rates or effective tax rates. there's ways of doing that. >> reporter: with the clock ticking and markets getting nervous, talks begin again this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the electio
Nov 27, 2012 2:00am PST
medicare and social security afloat. lawmakers with the fix-the-debt coalition meet here tomorrow. >> there's going to come a point in time where we can't borrow any more money, and interest rates are going to skyrocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: one vote with key players still far from agreement. no word yet on when the next white house meeting might take place. lynn? >> tracie potts for us in washington, thanks. >>> last night on "hardball," republican senator tom coburn told chris matthews about his vision for averting the fiscal cliff. take a listen. >> there's no question we can have the rich pay more, but that won't solve our problem. >> i agree. >> and with that comes negatives. the real problem is is you've got an entitlement system that's out of whack, and the demographics are exaggerating that. and you've had discretionary spending increases, you know, the budget of this country this year is twice what it was 11 years ago. and a good portion of that is discretionary. some of it, $100 billion a year is the war, but the re
Search Results 0 to 1 of about 2